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China - Passenger Cars - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Jun 1, 2025

China - Passenger Cars - Market Analysis, Forecast, Size, Trends And Insights

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Dec 9, 2024

Xiaomi Expands Its Automotive Lineup with the Upcoming YU7 SUV Launch

BEIJING - Chinese electronics giant Xiaomi has announced plans to launch its first SUV, the YU7, in the middle of next year. This move marks Xiaomi's ongoing expansion into China's highly competitive automotive market, signaling its commitment to diversify its product range beyond popular smartphones. For more details, refer to the original report here.

The anticipated launch of the YU7 SUV aligns with Xiaomi's strategic growth in the electric vehicle (EV) sector, following its entry in March with the SU7 series, a competitively priced model designed to catch the eye of budget-conscious consumers. Building on its initial success, Xiaomi has continually increased its EV delivery targets, now aiming for 130,000 units this year to satisfy the burgeoning demand.

This rapid expansion is timely, as China's passenger car market shows strong external trade figures, with exports reaching a substantial $77.7 billion in 2023. Among the top destinations for Chinese passenger cars, Russia leads with $11.7 billion, followed by Belgium and the United Kingdom.

Moreover, Xiaomi's ambitious automotive strategy comes as China's car sales accelerate, buoyed by favorable governmental incentives targeting auto trade-ins. This market dynamism is underpinned by impressive import figures, with China importing $45.9 billion worth of passenger cars in 2023. The primary import partners include Germany at $15.4 billion and the United States, contributing $8.4 billion.

Competing in the Luxury Segment

In October, Xiaomi revealed a new luxury variant of its SU7 model, crafted to compete with high-end offerings such as Tesla's Model S Plaid. This move underscores Xiaomi's intent to cement its presence across all echelons of the EV market, showcasing the SU7's performance mastery with a notable lap record at the Nurburgring track in Germany.

With a 30.5% increase in third-quarter revenues surpassing analysts' expectations, Xiaomi's trajectory in the automotive arena appears promising as it continues to leverage China's robust automotive export framework and leverage market trends to its advantage.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the passenger car market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 29102100 - Vehicles with spark-ignition engine of a cylinder capacity. 1 .500 cm., new
  • Prodcom 29102230 - Motor vehicles with a petrol engine > 1 .500 cm. (including motor caravans of a capacity > 3 .000 cm.) (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
  • Prodcom 29102250 - Motor caravans with a spark-ignition internal combustion reciprocating piston engine of a cylinder capacity > 1 .500 cm. but . 3 .000 cm.
  • Prodcom 29102310 - Motor vehicles with a diesel or semi-diesel engine . 1 .500 cm. (excluding vehicles for transporting . .10 persons, s nowmobiles, golf cars and similar vehicles)
  • Prodcom 29102330 - Motor vehicles with a diesel or semi-diesel engine > 1 .500 cm. but . 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
  • Prodcom 29102340 - Motor vehicles with a diesel or semi-diesel engine > 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
  • Prodcom 29102353 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 1 .500 cm. but . 2 .500 cm.
  • Prodcom 29102355 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 2 .500 cm.
  • Prodcom 29102400 - Other motor vehicles for the transport of persons (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
  • Prodcom 29102410 -
  • Prodcom 29102430 -
  • Prodcom 29102450 -
  • Prodcom 29102490 -

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, By Product
    11. Average Per Capita Consumption, By Product
    12. Exports and Growth, By Product
    13. Export Prices and Growth, By Product
    14. Production Volume and Growth
    15. Exports and Growth
    16. Export Prices and Growth
    17. Market Size and Growth
    18. Per Capita Consumption
    19. Imports and Growth
    20. Import Prices
    21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country, 2012–2024
    29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country, 2012–2024

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